Trading range 110.43-110.86

05.04.2021

Daily chart: the zone of the upper Bollinger band (110.62-110.92) represents a fairly serious resistance that can prevent the bulls from further upward movement. This is also indicated by the overbought RSI and the downward reversal of the ADX indicator from the extreme zone.

Н4: abundantly stable horizontal Bollinger envelopes limit potential volatility today to a range of 43 points (110.43-110.86). There is a very small probability that the pair will leave this corridor today.

Н1: within the day I can also confidently confirm the superstrong support (110.43-110.51) and resistance (110.75-110.86) zones. ADX potential will obviously not be enough to break through the boundaries of this corridor.

Conclusions: flat in the range 110.43-110.86.
Trading decisions: short-term deals in both directions in the corridor 110.43-110.86.